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Fintech Rho rolls out corporate card alongside BaaS offering

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BGL launches CAS 360 in Singapore

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BGL Corporate Solutions, Australia’s leading supplier of SMSF administration and ASIC company compliance solutions, announce the release of CAS 360, their market leading corporate compliance solution, in Singapore.

The addition of Singapore to BGL’s CAS 360 Product means we are now providing our cloud based corporate compliance solution in 3 jurisdictions – Australia, New Zealand and Singapore – with more to come in 2022.

“CAS 360 is a game changer in Singapore,” says BGL Managing Director Ron Lesh. “It is the first company secretarial solution to be approved by the Accounting and Corporate Regulatory Authority (ACRA) in Singapore for the electronic filing of company Annual Returns. CAS 360 Singapore also provides a connected service allowing clients to download company data directly from ACRA into CAS 360 – another first for CAS 360.

“The CAS 360, Dev Ops,Integrations and API Teams have been working hard over the past few months to build CAS 360 Singapore,” said Lesh. “We are proud to announce the BETA version has been released to our clients and the Singapore corporate service provider (CSP) network. While our CAS Desktop product has been available in Singapore for many years and has 400 + registered clients, CAS 360 will provide a whole new level of automation and integration simply not possible in desktop software”.

CAS 360 is the complete company secretarial tool for Singapore CSP providing all the company registers and supporting documents required in Singapore. As ACRA releases more APIs for company changes in the second half of 2021, BGL will add further integration to CAS 360. “ACRA has only started their API journey,” added Lesh.

There is a lot more work to be done to complete the lodgement system in Singapore so all documents can be lodged electronically. BGL is working with ACRA to make this a reality for our clients”.

CAS 360 also provides an XBRL tool in CAS 360,” noted Lesh. “This tool saves our clients hours in XBRL preparation and provides simple lodgement with ACRA. Apart from ACRA’s spreadsheet, BGL is the only provider of an XBRL preparation and lodgement tool in Singapore”.

For more information on CAS 360, visit www.bglcorp.com.sg

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Source: https://australianfintech.com.au/bgl-launches-cas-360-in-singapore/

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Wolters Kluwer acknowledged as business and industry innovators for CCH iKnow and CCH iQ Client Match

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Wolters Kluwer Tax & Accounting Asia Pacific, a leading provider of expert solutions for legal, tax, accounting, and finance professionals who make critical decisions every day, was recognized with a Gold Stevie® Award for its CCH iKnow solution, plus a Gold Stevie® Award and Silver Stevie® Award for CCH iQ Client Match solution in the eighth edition of the Asia-Pacific Stevie® Awards. These solutions have innovated how accounting professionals navigate complex tax topics and leverage insights to build proactive accounting advisory opportunities.

“We welcome this strong industry recognition of our innovation roadmap for professional solutions that help Australia’s accounting professionals,” said Izzy Silva, Managing Director, Wolters Kluwer Tax & Accounting Asia Pacific. “The success of these solutions was evident during the global health crisis. Multiple pieces of new legislation were released to support the COVID-19 economic recovery. CCH iKnow kept our professional accounting clients up to date, and in turn, CCH iQ Client Match helped them automate communications with their own client base – ultimately generating 850,000 advisory opportunities for Wolters Kluwer clients.”

CCH iKnow was recognized with a Gold Stevie® Award in the Innovation in Technology Management, Planning & Implementation category. CCH iQ Client Match was recognized with a Gold Stevie® Award for the Innovation in Technology Management, Planning & Implementation Financial Services category. CCH iQ Client Match was also awarded a Silver Stevie® Award in the Innovation in Business-to-Business Services category.

CCH iKnow is a platform that is formatted into a comprehensive matrix of industry-leading content, expert analysis, and practical tools across 11 modules designed to help accounting professionals navigate the practice areas that best suit their firm. It helps accounting professionals understand complex tax topics quickly via its innovative 360-degree research functionality. Its relevant, in-depth, and balanced commentary, up-to-date data, and insights are prepared by the same team that powers the highly renowned Australian Master Tax Guide.  

CCH iQ Client Match is based on innovative predictive intelligence technology, deep industry insights of Wolters Kluwer experts, and the benefits of its professional practice management software, CCH iFirm. The CCH iQ Client Match service profiles the accounting firm’s client database held in CCH iFirm, matching clients that are impacted by the tax event. Within minutes, all of the affected clients are grouped in one place – removing the need for the accountant to spend time manually aligning clients to tax events. Templated client letters and practical tools, such as calculators and impact statements, streamline an easy contact process with all affected clients and correctly apply the change to each impacted client.

Overall, Wolters Kluwer Tax & Accounting Asia Pacific was recognized for its innovation with seven Gold and Silver Stevie Awards, achieving Gold Awards for its CCH Integrator, CCH iKnow, and CCH iQ Client Match solutions, and Silver Awards for its corporate response to COVID-19, and for its CCH Pinpoint and CCH iQ Client Match solutions.

“The eighth edition of the Asia-Pacific Stevie Awards attracted many remarkable nominations,” said Stevie Awards president Maggie Gallagher.  “The organisations that won this year have demonstrated that they have continued to innovate and succeed despite the COVID-19 pandemic, and we applaud them for their perseverance and creativity.  We look forward to celebrating many of this year’s winners during our virtual awards ceremony on 14 July.”

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Source: https://australianfintech.com.au/wolters-kluwer-acknowledged-as-business-and-industry-innovators-for-cch-iknow-and-cch-iq-client-match/

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BaaS Fintech Unit Acquires $51M in Capital via Series B from Accel, Better Tomorrow Ventures, Others

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After acquiring $51 million in capital through a Series B round led by Accel, Banking-as-a-Service (BaaS) provider Unit has introduced a product that will allow firms to offer live bank accounts and issue payment cards within minutes.

Better Tomorrow Ventures, Aleph, Flourish Ventures, and TLV Partners also took part in Unit‘s latest investment round.

Established in 2019 and having come out of stealth mode in late 2020, Unit’s management noted that their modern technology stack has been developed on a native ledger. The company’s platform features embedded compliance, along with built-in bank relationships. This enables companies or businesses to go live in around four weeks. During the past 3 months, Unit has seen deposit volume increase by more than 300%, and banked end-clients grow by 600%.

The firm recently completed integrations with Plaid and Allpoint. Unit’s management said that the proceeds from the new round should help it expand operations and offer various other financial products. The company will also be working on other types of integrations, while also implementing a richer feature set, such as (software development kits) SDKs and front-end components.

First up in the company’s line of products is Unit Go, which aims to allow firms to create live bank accounts and issue physical and virtual cards in just a few minutes. Founders and developers are able to sign up for free accounts, build solutions in Unit’s live environment, and instantly test out their products with real funds.

Unit CEO Itai Damiti stated:

“After interacting with hundreds of builders, we believe even more strongly that the next decade in Fintech will be defined by tech companies using their unfair advantage — the flywheel of distribution, trust, software, and data — to launch massively successful fintech products in their verticals. Our mission continues to be helping these companies bring those products to life, unlock value, and expand financial access for all.”

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Source: https://www.crowdfundinsider.com/2021/06/176791-baas-fintech-unit-acquires-51m-in-capital-via-series-b-from-accel-better-tomorrow-ventures-others/

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Indonesian Fintech Finantier, an Open Finance API Platform, Finalizes Seed Round from Global Founders Capital, East Ventures

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Indonesia-based Finantier, an open finance API platform, has secured an undisclosed 7-figure sum through a seed round that was led by Global Founders Capital and East Ventures.

Finantier’s latest investment round was oversubscribed. The capital was raised at a post-money valuation of over 20 times its pre-seed valuation in November of last year.

Participating in Finantier‘s new funding round were Future Shape, an investment and advisory company established by Tony Fadell, the co-inventor of the iPhone; Partech Partners, Taurus Ventures, Saison Capital, and GMO Venture Partners. Several other high-profile Fintech investors made contributions as well.

Existing investors AC Ventures, Y Combinator, Genesia Ventures, Two Culture Capital and prominent angels also took part in Finantier’s round. As previously reported, Finantier was part of Y Combinator’s Winter 2021 batch.

Finantier will also be working with Francesco Simoneschi, Co-Founder and CEO at Truelayer as an advisor to strengthen the firm’s Board of Directors.

The proceeds will be channeled towards scaling the business and further improving Finantier’s line of products, while helping the firm to continue its expansion efforts in Indonesian markets and the wider region. The company will also be doubling the size of its workforce.

Since the beginning of 2021, the firm has been focused on growing its professional team. It now has around 50 employees and has increased its client base and business partnerships by more than 50% MoM.

Edwin Kusuma, Co-founder and COO at Finantier, stated:

“Finantier democratises access to financial services by allowing the millions of unbanked – from roadside warungs (SMEs) to gig economy workers – to benefit from their digital data footprint. By unlocking access to basic financial services for the unbanked, we are enabling them and their loved ones to lead better lives.”

As covered in December 2020, Finantier had revealed that it acquired an undisclosed amount of capital from US-based startup accelerator Y Combinator.

Finantier had joined Y Combinator’s Winter 2021 funding cycle, which was scheduled to begin in January 2021. Finantier had said in December that it was planning to expand its business operations into emerging markets outside the Southeast Asia region via its partnership with the accelerator.

The Fintech firm allows companies or businesses to build and provide financial services to customers by offering accounts aggregation, income and ID verification, recurring repayments and subscription services. Finantier leverages machine learning to analyze raw data and then offer insights from several different sources.

Edwin Kusuma, Chief Operations Officer at Finantier, stated (in December of last year):

“Fintech lenders are frequently unable to extend loans to consumers and businesses. This is due to incomplete information, or the inability of Fintechs to obtain the full financial picture of a borrower to de-risk their operations and reduce costs.”

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Source: https://www.crowdfundinsider.com/2021/06/176848-indonesian-fintech-finantier-an-open-finance-api-platform-finalizes-seed-round-from-global-founders-capital-east-ventures/

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